Manhattan Beach Sand Section Market Update

The sand section of Manhattan Beach offers the epitome of California coastal living.  The sand section is the area of Manhattan Beach that is bordered by the beach and ocean to the west, and generally the streets of Valley and Ardmore to the east.  What makes this area so desirable is the proximity to the beach and the ocean.  The area offers a variety of housing options with oceanfront luxury homes on The Strand, beautiful “walk street” homes with a wonderful sense of community and often sweeping ocean views, townhomes just a few blocks to the beach, and multi unit homes of North Manhattan, known as El Porto.  The market is always very active as the demand is always strong for prime beach real estate.  As of mid March there are 9 active homes for sale in the sand section, 21 pending home sales and 18 closed homes sales as of February 1st.  According to Manhattan Beach realtor Keith Kyle, “Incredibly low inventory coupled with very high demand since the beginning of the year is driving prices up quickly.  There are many buyers looking in this luxury market, but there are very few listings and even homes priced at market value are often selling with multiple offers, over asking and with huge concessions by the buyers.”  The current average sales price since the beginning of February has been slightly over $2,300,000.   See the chart below to see the market by the numbers.

Active MLS Listings – Currently there are 9 active homes for sale in the Manhattan Beach Sand Section
List Price ADOM BR BA Year Built SqFt Lot SqFt
Min 1,179,000 2 2 2.00 1933 1,392 1,153
Max 6,750,000 19 5 6.00 2013 5,000 3,772
Avg 3,207,889 10 4 4.00 1990 3,012 2,216
Sum 28,871,000
8 Pending home Sales – 21 Total “In Escrow”
List Price ADOM BR BA Year Built SqFt Lot SqFt
Min 975,000 2 2.00 1946 1,082 1,350
Max 2,499,000 105 5 4.00 2009 2,989 5,885
Avg 1,854,750 31 3 3.38 1982 2,040 2,855
13 Pending Sales in Backup Offer Status
List Price ADOM BR BA Year Built SqFt Lot SqFt
Min 925,000 5 2 1.00 1921 982 1,345
Max 6,995,000 73 5 5.00 2007 5,000 4,930
Avg 2,519,538 36 4 3.69 1988 2,602 2,577
18 Closed Home Sales since 2/1/2013
List Price ADOM Selling Price BR BA Year Built SqFt Lot SqFt
Min 1,199,000 1,214,500 2 2.00 1927 1,350 990
Max 11,500,000 449 10,995,000 5 5.00 2012 4,761 3,507
Avg 2,409,278 78 2,362,350 3 3.72 1987 2,281 2,562
Sum 43,367,000 42,522,300
Status: All (48)
List Price ADOM Selling Price BR BA Year Built SqFt Lot SqFt
Min 925,000 1,214,500 2 1.00 1921 982 990
Max 11,500,000 449 10,995,000 5 6.00 2013 5,000 5,885
Avg 2,496,458 46 2,362,350 3 3.71 1987 2,465 2,549